Weaver C. Barksdale & Associates Inc. Trims Stock Position in Packaging Co. of America (NYSE:PKG)

Weaver C. Barksdale & Associates Inc. lessened its stake in Packaging Co. of America (NYSE:PKG) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,866 shares of the industrial products company’s stock after selling 186 shares during the quarter. Packaging Co. of America comprises approximately 2.1% of Weaver C. Barksdale & Associates Inc.’s holdings, making the stock its 11th biggest holding. Weaver C. Barksdale & Associates Inc.’s holdings in Packaging Co. of America were worth $2,166,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Register Financial Advisors LLC purchased a new stake in Packaging Co. of America during the 1st quarter worth $25,000. Neo Ivy Capital Management bought a new stake in shares of Packaging Co. of America during the fourth quarter valued at approximately $28,000. Asset Dedication LLC lifted its holdings in Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 112 shares during the period. Tortoise Investment Management LLC acquired a new position in shares of Packaging Co. of America during the 2nd quarter valued at $33,000. Finally, Headlands Technologies LLC acquired a new stake in Packaging Co. of America in the 1st quarter valued at about $43,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of NYSE PKG opened at $215.58 on Friday. Packaging Co. of America has a 52 week low of $143.82 and a 52 week high of $217.69. The stock has a market capitalization of $19.36 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 4.10 and a beta of 0.77. The stock has a 50 day moving average price of $199.22 and a 200 day moving average price of $188.32. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.06. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. Packaging Co. of America’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.31 earnings per share. Analysts predict that Packaging Co. of America will post 8.72 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be given a dividend of $1.25 per share. The ex-dividend date is Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.32%. Packaging Co. of America’s payout ratio is presently 62.50%.

Insider Transactions at Packaging Co. of America

In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the transaction, the senior vice president now directly owns 20,772 shares in the company, valued at approximately $4,077,128.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Donald R. Shirley sold 6,000 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,177,680.00. Following the completion of the transaction, the senior vice president now directly owns 20,772 shares in the company, valued at approximately $4,077,128.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the transaction, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PKG shares. Citigroup lifted their target price on shares of Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Thursday. Truist Financial upped their price target on Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Bank of America raised their target price on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Finally, Wells Fargo & Company raised their price target on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $190.50.

About Packaging Co. of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.